Ford Cuts Focus EV Price to Spark Sales
For a few months now, auto manufacturers have been cutting prices on their electric vehicles, sometime fairly dramatically, in order spur interest in the technology and put as many on the road as they can. Ford (NYSE:F) has become the latest company to do so, dropping the price of its Focus EV by a rather impressive $4,000, from $39,200 to $35,200.
Buyers have been slow to receive electric vehicles, putting manufacturers in a tough spot. While demand for EVs exists, the lack of infrastructure to support them, range concerns, and costs related to “bricking” have kept many buyers at arms’ length. As a result, manufacturers are finding it harder to justify their production, and have lowered their prices to compensate.
Ford’s decision to lower the price on the 2014 model year Focus EV comes roughly a month after the company pledged that it would not be chasing prices like its competition, which includes Nissan’s Leaf and the Honda (NYSE:HMC) Fit EV. “We’re not going to chase down to the lowest price possible — that doesn’t make sense to erode the brand image or the true value of the product,” Nancy Gioia, Ford’s director of global electrification, said at the time.